What is Scotiabank's Forecast for Snowflake FY2027 Earnings?

Key Points

• Scotiabank raised its FY2027 EPS forecast for Snowflake to a loss of $2.08 per share from $2.24, and kept an Outperform rating on the stock. The new estimate is slightly better than the broader consensus of a $2.20 loss per share.
• Snowflake’s latest quarterly results topped expectations, with EPS of $0.39 versus $0.32 expected and revenue of $1.39 billion versus $1.32 billion expected. Revenue also rose 33.5% year over year, suggesting strong growth momentum.
• Analysts remain broadly bullish on SNOW, with several firms recently lifting price targets to around $295-$300. MarketBeat data shows a consensus rating of Moderate Buy and an average price target of $284.38.

Snowflake Inc. (NYSE:SNOW - Free Report) - Scotiabank increased their FY2027 EPS estimates for shares of Snowflake in a report issued on Friday, May 29th. Scotiabank analyst P. Colville now anticipates that the company will earn ($2.08) per share for the year, up from their previous forecast of ($2.24). Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for Snowflake's current full-year earnings is ($2.20) per share.

SNOW has been the subject of several other reports. Piper Sandler set a $300.00 target price on shares of Snowflake in a research note on Thursday. Morgan Stanley boosted their target price on shares of Snowflake from $245.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Snowflake from $210.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday. Oppenheimer boosted their target price on shares of Snowflake from $250.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Mizuho boosted their target price on shares of Snowflake from $220.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $284.38.

Snowflake Stock Up 10.0%

SNOW stock opened at $281.14 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. The firm's fifty day simple moving average is $158.80 and its 200-day simple moving average is $190.47. Snowflake has a 12 month low of $118.30 and a 12 month high of $284.99. The company has a market capitalization of $97.19 billion, a P/E ratio of -79.87 and a beta of 1.08.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 49.29%. The business's revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new stake in shares of Snowflake in the fourth quarter valued at about $28,000. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at about $29,000. GoalVest Advisory LLC grew its holdings in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock valued at $30,000 after purchasing an additional 93 shares during the period. Physician Wealth Advisors Inc. grew its holdings in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock valued at $31,000 after purchasing an additional 51 shares during the period. Finally, Emerald Advisers LLC grew its holdings in shares of Snowflake by 95.2% in the first quarter. Emerald Advisers LLC now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 100 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $175.19, for a total transaction of $8,818,714.22. Following the completion of the transaction, the director directly owned 30,236 shares in the company, valued at approximately $5,297,044.84. This represents a 62.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Garrett sold 100,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the sale, the director owned 8,801 shares of the company's stock, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,416,489 shares of company stock worth $310,023,119. Company insiders own 4.80% of the company's stock.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Scotiabank raised its FY2027 EPS estimate for Snowflake, signaling improved confidence in the company’s longer-term earnings outlook while keeping an Outperform rating.
• Positive Sentiment: Snowflake and Anthropic said their partnership is gaining momentum as enterprises adopt Claude inside Snowflake Cortex AI, reinforcing Snowflake’s role in governed, production-ready enterprise AI. Snowflake and Anthropic Accelerate Enterprise AI Adoption Driven by Rising Demand for Governed AI
• Positive Sentiment: Recent coverage highlighted Snowflake’s strong quarterly results, with accelerating growth and improved profitability renewing investor optimism that the company’s AI strategy is working. Snowflake's Best Quarter In Years: One Product Made It Happen
• Positive Sentiment: Several media appearances and articles, including comments from Jim Cramer, emphasized that Snowflake is benefiting from the shift to AI and may have more upside if momentum continues. Jim Cramer Notes “Snowflake Understands the Transition to AI”
• Neutral Sentiment: Snowflake also drew attention from ecosystem partners, including new integrations on Snowflake Marketplace, which support the platform story but are not immediate financial catalysts. Redpoint Launches Identity Studio on Snowflake Marketplace
• Neutral Sentiment: Reports about a large AWS infrastructure agreement and Snowflake’s Natoma acquisition may strengthen its long-term AI/data moat, though investors are still weighing the impact. Snowflake signs $6bn infrastructure agreement with AWS
• Negative Sentiment: Large insider sales by directors Mark Garrett and Frank Slootman could create a mild overhang, even though one sale was made under a pre-arranged trading plan. Insider Selling: Snowflake NYSE: SNOW Director Sells 100,000 Shares of Stock
• Negative Sentiment: Some commentary warned that after the sharp rally, Snowflake’s upside may be more limited near term, which could temper enthusiasm. Should You Buy Snowflake Stock After Its Recent Surge? The Answer Might Surprise You.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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